Bitcoin returns to the positive side on Monday above $66000

• Over the weekend, Bitcoin’s price stabilised above the $64,000 level. 

Bitcoin chart analysis

Over the weekend, Bitcoin’s price stabilised above the $64,000 level. On Saturday, we first got support at $63000 and the EMA50 moving average. After that, we climbed above the $65000 level and on Sunday, we managed to hold in that zone with the support of the EMA200 moving average.

On Monday morning we see the start of a bullish consolidation and a jump to the $6500 level after a week. We are currently looking at a slight pullback and expect a test of the $66,000 level. The subsequent movement of the bitcoin price will also depend on the movement in that zone. We could easily visit the $65000 support zone once again, along with the EMA200 and EMA50 moving averages.

We have EMA50 and EMA200 support; the question is will it hold?

The inability to maintain above these levels will push us back to the bearish side. After that, we will look for a new pullback and search for new support levels. Potential lower targets are $64500 and $64000 levels.

With new support above the $65500 level, bitcoin could initiate another positive consolidation. We are once again in a position to test today’s $66,500 high. The new test would have the opportunity to produce an impulse above the formed weekly high. Potential higher targets are $67000 and $67500 levels.